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Democratic Senators for a Job Guarantee

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  • Strongly Liberal Democrat
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    Dallas, TX
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    A growing number of Democratic Senators are in favor of a federal job guarantee, whereby, anyone able and willing to work would be guaranteed employment opportunities in civil-service positions at what would become the new minimum compensation package in the economy.

    Booker-Baldwin's Transition Job legislation, the Stronger Way Act, was introduced last October. Transition Jobs is the favored approach/framing of Warren Mosler, co-founder of Modern Monetary Theory, whose scholars have advocated for and published on the Job Guarantee for over twenty years, including a recent modeling paper which can be downloaded here.

    As this article in the Nation highlights here, public support for a Job Guarantee is staggeringly high.

    Senator Gillibrand has emerged as one of the fiercest advocates for a Federal Job Guarantee and may be gearing up for a presidential run in 2020.

    And if you think this is just a fringe idea, the reason that the JG has broken out into the mainstream is a growing number of researchers in mainstream Democratic think-tanks are the ones now pushing it, such as at the Center on Budget and Policy Priorities and the Center for American Progress.

    The progressive and centrist Democratic views are rapidly reaching consensus on the need for a federal job guarantee.

    Last Friday, Senator Booker unvield new legislation for a pilot JG program ran by the Dept of Labor.

    https://www.vox.com/policy-and-politics/2018/4/20/17260578/cory-booker-job-guarantee-bill-full-employment-darity-hamilton

    Here are some other recent articles:

    theintercept.com/2018/04/01/federal-job...

    thenation.com/article/the-government-sh...

    urbanmilwaukee.com/2018/03/28/data-wonk...

    washingtonpost.com/opinions/why-democra...

    And on the subject of federal deficits, the MMT view is breaking thru the mainstream. Here's some recent articles:

    nytimes.com/2018/04/17/opinion/deficit-...

    vox.com/polyarchy/2018/4/20/17262944/de...

    vox.com/2018/4/10/17215440/deficits-ris...

    In short, if you are a Democrat and you argue that all federal spending has to be paid for with tax increases, spending cuts, or some sort of dynamic revenue growth, you are increasing on the way out. That way of thinking has proven to lack any empirical basis and does not apply to the monetary system that we have today. It is an impediment to all Democratic Party priorities and lacks any basis in economic or financial reality. It is nothing more than myths, peddled by those who don't understand how the monetary system works and/or are too afraid to admit their intellectual policy failures.

    Deficit Terrorists have no place in the Democratic Party and should be put on notice that their time is up. Austerity and pay-go politics are anti-America and have reeked untold economic and social carnage on this nation, not to mention costing Democrats election after election after election after election after election. It's horrible policy and horrible politics.

  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Carlitos Wrote:

    A growing number of Democratic Senators are in favor of a federal job guarantee, whereby, anyone able and willing to work would be guaranteed employment opportunities in civil-service positions at what would become the new minimum compensation package in the economy.

    Booker-Baldwin's Transition Job legislation, the Stronger Way Act, was introduced last October. Transition Jobs is the favored approach/framing of Warren Mosler, co-founder of Modern Monetary Theory, whose scholars have advocated for and published on the Job Guarantee for over twenty years, including a recent modeling paper which can be downloaded here.

    As this article in the Nation highlights here, public support for a Job Guarantee is staggeringly high.

    Senator Gillibrand has emerged as one of the fiercest advocates for a Federal Job Guarantee and may be gearing up for a presidential run in 2020.

    And if you think this is just a fringe idea, the reason that the JG has broken out into the mainstream is a growing number of researchers in mainstream Democratic think-tanks are the ones now pushing it, such as at the Center on Budget and Policy Priorities and the Center for American Progress.

    The progressive and centrist Democratic views are rapidly reaching consensus on the need for a federal job guarantee.

    Last Friday, Senator Booker unvield new legislation for a pilot JG program ran by the Dept of Labor.

    https://www.vox.com/policy-and-politics/2018/4/20/17260578/cory-booker-job-guarantee-bill-full-employment-darity-hamilton

    Here are some other recent articles:

    theintercept.com/2018/04/01/federal-job...

    thenation.com/article/the-government-sh...

    urbanmilwaukee.com/2018/03/28/data-wonk...

    washingtonpost.com/opinions/why-democra...

    And on the subject of federal deficits, the MMT view is breaking thru the mainstream. Here's some recent articles:

    nytimes.com/2018/04/17/opinion/deficit-...

    vox.com/polyarchy/2018/4/20/17262944/de...

    vox.com/2018/4/10/17215440/deficits-ris...

    In short, if you are a Democrat and you argue that all federal spending has to be paid for with tax increases, spending cuts, or some sort of dynamic revenue growth, you are increasing on the way out. That way of thinking has proven to lack any empirical basis and does not apply to the monetary system that we have today. It is an impediment to all Democratic Party priorities and lacks any basis in economic or financial reality. It is nothing more than myths, peddled by those who don't understand how the monetary system works and/or are too afraid to admit their intellectual policy failures.

    Deficit Terrorists have no place in the Democratic Party and should be put on notice that their time is up. Austerity and pay-go politics are anti-America and have reeked untold economic and social carnage on this nation, not to mention costing Democrats election after election after election after election after election. It's horrible policy and horrible politics.

    "Transition Jobs is the favored approach/framing of Warren Mosler"

    Just an excuse as is any job guarantee for not criminaljzing gambling in the money market . The value of a stock should be its earning capability and the stock market should be so regulated . Since the amount of discretionary money has been reduced by investing money being diverted to insurance schemes employment is both underpaid and not available. Energize the US consumer market by regulating wall street to what it claims to be and prosperity and tax revenues will grow. That is an exponential force because discretionary money spent generates more growth.

  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    "anyone able and willing to work would be guaranteed employment opportunities in civil-service positions at what would become the new minimum compensation package in the economy"

    Wrong way to go. How will it be paid for??? Cutting entitlements and the safety net will be easy targets.

    Just do the right thing and criminalize gambling in trading. Consumable products for sale.

  • Independent
    Ft.myers, FL
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    Job guarantees are kind of ridiculous. First of all there are plenty of people who want to work, but can't due to either being ill, have an mental handicap or have no limbs etc. Since this warmonger country gets lots of crippled and mental cases because of our wars, then this is an self inflicted wound. Also for the more healthy one's the education system here is lacking to produce "healthy" educated brains which can tackle today's jobs. For instance: my hurricane damaged roof was fixed by 100% Mexicans; who were trained (according to the contractor) but lacked all common sense in doing the job; therefore it took close to a month to complete; lots of mistakes took place and were rejected by the county code inspector. They did not even think that water runs downhill, let alone that gutters should be leveled. etc. Thus "training" via proper education should be the "tool" for the job market. How come that we have an un-educated asshole in the White House who is not suited for the job? If every industry or job provider follows our governments model, then this country is doomed. Qualification to do a proper job should be the priority; that can only be done by proper education. Even a job in the Publix requires training; I see daily stupidities in that store because of lack of training. etc etc. So why "guarantee" a job if you are not qualified for it? At least in Europe you have to prove that you are qualified and then you get the job. The main reason is that it is difficult to fire a person over there, unless you have an sound reason accepted by the courts (and laws).
  • Strongly Liberal Democrat
    Democrat
    Dallas, TX
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    Chet Ruminski Wrote:

    "anyone able and willing to work would be guaranteed employment opportunities in civil-service positions at what would become the new minimum compensation package in the economy"

    Wrong way to go. How will it be paid for??? Cutting entitlements and the safety net will be easy targets.

    Just do the right thing and criminalize gambling in trading. Consumable products for sale.

    Chet, do you read what you respond to or whom you are responding to?

    As you very well know, the funds to pay for a JG will come from where all federal spending and lending comes from by marking up accounts in the banking system. There is no other way to do it.

  • Strongly Liberal Democrat
    Democrat
    Dallas, TX
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    Chet Ruminski Wrote:

    "Transition Jobs is the favored approach/framing of Warren Mosler"

    Just an excuse as is any job guarantee for not criminaljzing gambling in the money market . The value of a stock should be its earning capability and the stock market should be so regulated . Since the amount of discretionary money has been reduced by investing money being diverted to insurance schemes employment is both underpaid and not available. Energize the US consumer market by regulating wall street to what it claims to be and prosperity and tax revenues will grow. That is an exponential force because discretionary money spent generates more growth.

    You are adopting a neo-Keynesian or Keynesian synthesis framework whereby proper regulation leads to a full employment equilibrium, which is a bastardization of Keynes.

    How ever firms or Wall Street are regulated, there could still be unemployment.

  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Carlitos Wrote:
    Chet Ruminski Wrote:

    "Transition Jobs is the favored approach/framing of Warren Mosler"

    Just an excuse as is any job guarantee for not criminaljzing gambling in the money market . The value of a stock should be its earning capability and the stock market should be so regulated . Since the amount of discretionary money has been reduced by investing money being diverted to insurance schemes employment is both underpaid and not available. Energize the US consumer market by regulating wall street to what it claims to be and prosperity and tax revenues will grow. That is an exponential force because discretionary money spent generates more growth.

    You are adopting a neo-Keynesian or Keynesian synthesis framework whereby proper regulation leads to a full employment equilibrium, which is a bastardization of Keynes.

    How ever firms or Wall Street are regulated, there could still be unemployment.

    Wall Street regulated itself from a consumer economy to a pay to play insurance betting economy . Look at the self serving laws wall street pays for. I am a capitalist that believes in private ownership balanced by regulations to make and keep it consumption based economy .
  • Strongly Liberal Democrat
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    Dallas, TX
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    Okay great. The Job Guarantee prevents the govt from over taxing the economy as it lets the market optimize the size of the govt deficit.
  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    WPA CCC etcetera would be fine. An economic stimulus only if the money could be kept in consumption oriented programs. Other wise the income gap will grow more .
  • Strongly Liberal Democrat
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    Dallas, TX
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    JG would be best anti poverty program we could do. Would increase non-JG employment and drive up wages for working people, at the expense of the surplus acquired by the wealthy.

  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    PDF version

    The central tenet of this school of thought is that government intervention can stabilize the economy.

  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Carlitos Wrote:
    Chet Ruminski Wrote:

    "anyone able and willing to work would be guaranteed employment opportunities in civil-service positions at what would become the new minimum compensation package in the economy"

    Wrong way to go. How will it be paid for??? Cutting entitlements and the safety net will be easy targets.

    Just do the right thing and criminalize gambling in trading. Consumable products for sale.

    Chet, do you read what you respond to or whom you are responding to?

    As you very well know, the funds to pay for a JG will come from where all federal spending and lending comes from by marking up accounts in the banking system. There is no other way to do it.

    I am not challenging or contradicting what you say. I am pointing out what the resistance will say. But I think penalizing idle money forcing it into a consumption economy is the way to proceed . Jobs that are self sufficient in that products made to sell will cause prosperity . Employers will compete for workers and workers will make more money. Prosperity will provide money for all services which is more jobs .
  • Strongly Liberal Democrat
    Democrat
    Dallas, TX
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    Appreciate the devil's advocacy. We need these Democratic Senators pushing for this to be schooled in federal spending/lending operations. It's hard to say what they know or don't know. I do know, from high level sources, that many of our elected representatives are aware of how it actually works, but afraid to discuss it b/c of the politics surrounding the deficit. But as is the case with Sen Schatz of HI, some of them no longer give a damn, and while avoiding the discussion, appear to be directly making the case for deficit spending. That's why if we are going to be talking about a Job Guarantee, we also have to talk about Modern Money.

    I think you are misguided on the whole "penalizing idle money forcing it into a consumption economy." That's not going to lead to sustained full employment.

  • Strongly Liberal Democrat
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    Pensacola, FL
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    Carlitos said: "marking up accounts in the banking system."

    Who determines how much to what account . Who would oversee and regulate?

  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    "I think you are misguided on the whole "penalizing idle money forcing it into a consumption economy." That's not going to lead to sustained full employment."

    Why not? That is how an economy works. Trading in goods and services. Its also a way to win elections and to get people sensitive to conditions into office.